Boston VA Loan Rates, Closing Costs & Stats

Boston-Cambridge-Newton, MA-NH

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Boston's 140 lenders originated 2,324 VA loans during 2022. The total origination value was $1,124,570,000, with an average VA loan value of $483,894.

    Boston VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Boston averaged -0.33% for the week of 2023-11-24, compared to the national average (all VA variants) of 0% for the same period.

    Boston's average VA mortgage closing costs are $6,959.

    The average rate for the prior week (2023-11-17) was 6.61% and one month ago for the week of 2023-10-20, the average rate was 6.64%.

    The average rate one year ago was 5.76%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.59%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Boston VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Boston level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage Research Center, LLC 278 4.88% $12,225
    QUICKEN LOANS, LLC 171 3.94% $14,529
    UNITED WHOLESALE MORTGAGE, LLC 137 4.37% $11,121
    PENNYMAC LOAN SERVICES, LLC 122 3.33% $12,271
    NAVY FEDERAL CREDIT UNION 111 3.79% $8,752
    LOANDEPOT.COM, LLC 111 3.70% $12,396
    GUARANTEED RATE, INC. 108 4.38% $8,518
    FREEDOM MORTGAGE CORPORATION 105 3.87% $13,990
    CROSSCOUNTRY MORTGAGE, LLC 84 4.55% $13,748
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 70 4.91% $10,905
    CALIBER HOME LOANS, INC. 55 4.40% $9,563
    The Federal Savings Bank 53 4.23% $17,915
    USAA Federal Savings Bank 53 4.10% $12,372
    CMG MORTGAGE, INC. 46 4.72% $10,496
    GUILD MORTGAGE COMPANY 34 4.65% $9,301
    Mr. Cooper ( Nationstar Mortgage ) 34 4.38% $15,139
    LAKEVIEW LOAN SERVICING, LLC 32 3.47% $7,578
    MOVEMENT MORTGAGE, LLC 30 5.07% $10,024
    NEWREZ LLC 27 3.92% $8,729
    Mortgage Network, Inc. 24 4.56% $8,387
    AMERISAVE MORTGAGE CORPORATION 23 3.49% $13,360
    HOMEBRIDGE FINANCIAL SERVICES, INC. 21 4.85% $14,972
    HOME POINT FINANCIAL CORPORATION 20 3.68% $10,473
    RADIUS FINANCIAL GROUP INC. 19 4.37% $11,011
    Leader Bank 18 3.54% $8,259
    GUARANTEED RATE AFFINITY, LLC 17 4.92% $7,233
    ENVOY MORTGAGE, LTD 17 4.49% $8,465
    NEW FED MORTGAGE, CORP. 16 4.30% $10,412
    NEW DAY FINANCIAL, LLC 15 4.76% $10,611
    TOTAL MORTGAGE SERVICES, LLC 14 4.70% $14,358
    PRIMELENDING, A PLAINSCAPITAL COMPANY 13 4.82% $9,113
    Barrington Bank & Trust Company, N.A. 12 4.53% $10,428
    MUTUAL OF OMAHA MORTGAGE, INC. 12 4.78% $13,625
    HARBORONE MORTGAGE, LLC 10 5.21% $9,083
    PENTAGON FEDERAL CREDIT UNION 9 4.54% $7,553
    Ross Mortgage Company, Inc. 9 5.14% $15,300
    BROKER SOLUTIONS, INC. 9 4.40% $14,240
    Flagstar Bank, FSB 8 4.40% $11,818
    EMBRACE HOME LOANS, INC. 8 4.01% $12,131
    Citizens Bank 7 4.30% $7,504
    Armed Forces Bank 7 4.32% $11,043
    SALEM FIVE MORTGAGE COMPANY, LLC 7 4.29% $6,896
    Shamrock Home Loans, Inc. 7 4.70% $7,790
    DRAPER AND KRAMER MORTGAGE CORP. 7 4.23% $14,188
    Wells Fargo Bank 7 3.86% $5,043
    BAY EQUITY LLC 7 4.64% $18,909
    BNC National Bank 7 4.04% $12,499
    Envision Bank 6 4.67% $8,051
    American Mortgage & Equity Consultants, Inc. 6 5.69% $11,359
    Equity Prime Mortgage LLC 6 4.33% $14,220
    Evolve Bank & Trust 6 4.71% $10,082
    Magnolia Bank 6 4.42% $18,589
    RELIANCE FIRST CAPITAL, LLC 6 4.94% $14,590
    DREW MORTGAGE ASSOCIATES, INC. 5 3.93% $8,161
    NBKC BANK 5 4.83% $8,734
    Bank of England 5 3.70% $14,319
    HOMESIDE FINANCIAL, LLC 5 4.47% $18,689
    AMERICAN FINANCING CORPORATION 5 4.18% $17,041
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 4.80% $13,590
    M&T Bank 4 4.53% $6,582
    CARDINAL FINANCIAL 4 4.25% $13,291
    NATIONS RELIABLE LENDING, LLC 4 4.88% $11,905
    ACADEMY MORTGAGE CORPORATION 4 5.78% $12,208
    First Home Bank 4 4.00% $10,809
    HANSCOM 4 4.75% $5,403
    Texana Bank 4 3.56% $8,858
    Bangor Savings Bank 4 3.25% $12,306
    MORTGAGE EQUITY PARTNERS LLC 4 4.31% $8,372
    North American Savings Bank, F.S.B. 4 4.28% $13,175
    Service Federal Credit Union 3 4.13% $11,410
    Rockland Trust Company 3 4.54% $16,834
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 4.00% $22,057
    Strong Home Mortgage, LLC 3 4.58% $13,151
    FIRST MORTGAGE COMPANY, INC. 3 5.29% $13,163
    VILLAGE CAPITAL MORTGAGE 3 3.58% $8,509
    FINANCE OF AMERICA MORTGAGE LLC 3 3.13% $6,765
    EVERETT FINANCIAL, INC. 3 6.33% $4,568
    NORTHPOINT MORTGAGE, INC. 3 5.00% $32,400
    ALLIED MORTGAGE GROUP, INC. 3 5.29% $17,453
    Bridgewater Savings Bank 3 3.79% $4,331
    PLANET HOME LENDING, LLC 3 4.21% $7,692
    MID-ISLAND MORTGAGE CORP. 2 5.75% $13,996
    First Federal Bank 2 3.19% $6,932
    VAN DYK MORTGAGE CORPORATION 2 3.44% $7,984
    Paramount Bank 2 4.50% $7,961
    Waterstone Mortgage Corporation 2 5.19% $16,325
    Semper Home Loans, Inc. 2 3.56% $9,577
    GENEVA FINANCIAL, LLC 2 5.25% $14,967
    Paramount Residential Mortgage Group, Inc. 2 5.69% $12,209
    CHURCHILL MORTGAGE CORPORATION 2 4.87% $11,536
    LEADERONE FINANCIAL CORPORATION 2 4.50% $11,540
    NFM, INC. 2 6.13% $16,617
    West Town Bank & Trust 2 4.81% $13,247
    PREMIA MORTGAGE, LLC 2 4.19% $6,513
    First Guaranty Mortgage Corporation 2 3.13% $18,425
    First Federal Bank of Kansas City 2 3.38% $9,454
    FIRST HOME MORTGAGE CORPORATION 2 4.88% $14,196
    TD Bank 2 3.88% $11,914
    LADERA LENDING, INC. 2 2.81% $7,454
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 3.06% $3,962
    The Washington Trust Company, of Westerly 2 3.69% $4,452
    OCMBC, INC. 2 4.88% $18,404
    Eastern Bank 2 6.00% $17,254
    Nations Lending Corporation 2 3.13% $16,621
    EMM LOANS LLC 2 5.37% $8,883
    TJC Mortgage, Inc. 1 5.75% $24,673
    First Horizon Bank 1 5.13% $3,763
    GUARANTY HOME MORTGAGE CORPORATION 1 4.88% $11,204
    HANCOCK MORTGAGE PARTNERS, LLC 1 3.63% $12,706
    Home Loan Investment Bank, F.S.B. 1 3.00% $10,717
    Luxury Mortgage Corp. 1 4.75% $15,804
    Meridian Bank Corporation 1 3.75% $4,149
    Mid-Continent Funding, Inc. 1 3.75% $6,184
    MILEND, INC. 1 5.25% $6,494
    MORTGAGE ACCESS CORP. 1 5.75% $6,448
    EQUITY RESOURCES, INC. 1 2.75% $2,595
    NATIONS DIRECT MORTGAGE, LLC 1 6.13% $21,338
    CONWAY FINANCIAL SERVICES, LLC 1 4.25% $4,708
    Community First National Bank 1 5.75% $14,238
    Century Mortgage Company DBA Century Lending Company 1 4.50% $10,534
    Northpointe Bank 1 2.50% $18,137
    Northwest Bank 1 5.38% $4,210
    NP, Inc. 1 2.25% $9,815
    Peoples Bank 1 5.99% $14,254
    Plains Commerce Bank 1 6.25% $7,216
    PLAZA HOME MORTGAGE, INC. 1 4.75% $15,558
    Poli Mortgage Group, Inc. 1 2.38% $13,014
    Prime Choice Funding Inc. 1 2.63% $31,464
    Axos Bank 1 4.63% $9,507
    Austin Capital Bank SSB 1 3.75% $10,395
    Ameris Bank 1 3.63% $15,562
    Sierra Pacific Mortgage Company, Inc. 1 5.00% $21,337
    Simmons Bank 1 5.63% $14,409
    SIRVA MORTGAGE, INC. 1 3.13% $27,910
    SUCCESS MORTGAGE PARTNERS, INC. 1 4.63% $5,269
    The Camden National Bank 1 2.63% $16,209
    UNION HOME MORTGAGE CORP. 1 6.00% $15,619
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.13% $7,719
    U.S. Bank 1 4.75% $16,320
    First Option Mortgage, LLC 1 3.00% $14,019

    The top Boston VA lender as defined by loan originations is Mortgage Research Center, LLC, with 278 VA loans originated. Their average total fees are $12,225, which is $2,304 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Boston VA lenders (with over 10 loans originated) are GUARANTEED RATE AFFINITY, LLC ($7,233), LAKEVIEW LOAN SERVICING, LLC ($7,578), Leader Bank ($8,259), Mortgage Network, Inc. ($8,387) and ENVOY MORTGAGE, LTD ($8,465).

    The lowest rate Boston VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.33%), LAKEVIEW LOAN SERVICING, LLC (3.47%), AMERISAVE MORTGAGE CORPORATION (3.49%), Leader Bank (3.54%) and HOME POINT FINANCIAL CORPORATION (3.68%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Boston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $529,450 (6.0%) $858,987 (4.0%) 1.96 6,025
    2018-02-01 $543,950 (5.6%) $875,742 (3.2%) 1.98 6,009
    2018-03-01 $574,900 (6.5%) $907,026 (4.8%) 2.02 6,566
    2018-04-01 $579,900 (5.5%) $899,962 (2.9%) 1.97 7,728
    2018-05-01 $584,800 (6.2%) $896,076 (3.6%) 1.95 8,784
    2018-06-01 $579,000 (5.3%) $876,191 (2.5%) 1.93 10,209
    2018-07-01 $559,450 (1.9%) $857,061 (1.9%) 1.87 10,107
    2018-08-01 $549,221 (3.6%) $825,035 (0.4%) 1.84 10,163
    2018-09-01 $549,900 (3.8%) $806,874 (-1.5%) 1.85 11,374
    2018-10-01 $549,000 (1.7%) $799,549 (-3.4%) 1.86 11,629
    2018-11-01 $539,400 (-0.1%) $798,329 (-3.9%) 1.83 10,958
    2018-12-01 $535,000 (1.1%) $798,852 (-5.6%) 1.85 8,829
    2019-01-01 $533,405 (0.8%) $806,509 (-6.1%) 1.84 7,548
    2019-02-01 $549,450 (1.0%) $851,351 (-2.8%) 1.86 7,342
    2019-03-01 $571,386 (-0.6%) $883,993 (-2.5%) 1.87 8,064
    2019-04-01 $599,900 (3.5%) $914,230 (1.6%) 1.90 8,920
    2019-05-01 $602,450 (3.0%) $923,103 (3.0%) 1.88 9,956
    2019-06-01 $599,900 (3.6%) $919,140 (4.9%) 1.87 11,103
    2019-07-01 $599,900 (7.2%) $910,925 (6.3%) 1.88 10,611
    2019-08-01 $595,780 (8.5%) $898,260 (8.9%) 1.89 10,693
    2019-09-01 $589,599 (7.2%) $887,145 (10.0%) 1.89 10,888
    2019-10-01 $588,033 (7.1%) $889,524 (11.3%) 1.90 11,017
    2019-11-01 $589,900 (9.4%) $915,519 (14.7%) 1.93 9,643
    2019-12-01 $589,450 (10.2%) $917,012 (14.8%) 1.97 7,015
    2020-01-01 $586,450 (9.9%) $930,307 (15.4%) 1.96 5,784
    2020-02-01 $599,900 (9.2%) $971,649 (14.1%) 1.97 5,753
    2020-03-01 $629,900 (10.2%) $980,194 (10.9%) 1.97 6,620
    2020-04-01 $617,450 (2.9%) $945,817 (3.5%) 1.93 6,437
    2020-05-01 $629,900 (4.6%) $945,278 (2.4%) 1.91 7,202
    2020-06-01 $656,448 (9.4%) $1,002,118 (9.0%) 1.93 7,782
    2020-07-01 $677,000 (12.9%) $1,036,368 (13.8%) 1.96 7,393
    2020-08-01 $675,000 (13.3%) $1,042,771 (16.1%) 1.93 7,190
    2020-09-01 $672,500 (14.1%) $1,038,852 (17.1%) 1.93 7,578
    2020-10-01 $665,000 (13.1%) $1,033,066 (16.1%) 1.91 7,945
    2020-11-01 $654,450 (10.9%) $1,028,284 (12.3%) 1.91 7,088
    2020-12-01 $646,999 (9.8%) $1,004,176 (9.5%) 1.93 5,304
    2021-01-01 $659,000 (12.4%) $1,075,105 (15.6%) 1.97 4,101
    2021-02-01 $679,450 (13.3%) $1,128,380 (16.1%) 1.98 3,873
    2021-03-01 $682,350 (8.3%) $1,144,192 (16.7%) 1.94 4,269
    2021-04-01 $694,000 (12.4%) $1,179,216 (24.7%) 1.88 4,775
    2021-05-01 $699,900 (11.1%) $1,180,369 (24.9%) 1.86 4,883
    2021-06-01 $697,225 (6.2%) $1,144,642 (14.2%) 1.84 5,736
    2021-07-01 $669,900 (-1.1%) $1,113,618 (7.5%) 1.77 5,673
    2021-08-01 $650,000 (-3.7%) $1,075,195 (3.1%) 1.73 5,572
    2021-09-01 $671,000 (-0.2%) $1,055,532 (1.6%) 1.79 6,018
    2021-10-01 $679,000 (2.1%) $1,062,841 (2.9%) 1.81 5,926
    2021-11-01 $674,520 (3.1%) $1,073,459 (4.4%) 1.80 4,934
    2021-12-01 $692,000 (7.0%) $1,141,086 (13.6%) 1.88 3,502
    2022-01-01 $716,500 (8.7%) $1,220,200 (13.5%) 1.94 2,675
    2022-02-01 $749,000 (10.2%) $1,237,957 (9.7%) 1.95 2,637
    2022-03-01 $749,450 (9.8%) $1,253,974 (9.6%) 1.88 2,989
    2022-04-01 $749,000 (7.9%) $1,243,220 (5.4%) 1.79 3,700
    2022-05-01 $757,500 (8.2%) $1,242,168 (5.2%) 1.73 4,474
    2022-06-01 $750,000 (7.6%) $1,172,828 (2.5%) 1.67 5,715
    2022-07-01 $739,900 (10.5%) $1,110,720 (-0.3%) 1.67 6,177
    2022-08-01 $725,000 (11.5%) $1,108,093 (3.1%) 1.68 5,758
    2022-09-01 $744,000 (10.9%) $1,145,076 (8.5%) 1.74 5,912
    2022-10-01 $749,000 (10.3%) $1,169,524 (10.0%) 1.76 6,222
    2022-11-01 $744,925 (10.4%) $1,176,829 (9.6%) 1.79 5,902
    2022-12-01 $749,000 (8.2%) $1,199,904 (5.2%) 1.85 4,406
    2023-01-01 $759,450 (6.0%) $1,238,229 (1.5%) 1.88 3,696
    2023-02-01 $799,000 (6.7%) $1,345,477 (8.7%) 1.93 3,433
    2023-03-01 $823,000 (9.8%) $1,387,424 (10.6%) 1.94 3,706
    2023-04-01 $839,000 (12.0%) $1,422,134 (14.4%) 1.95 4,059
    2023-05-01 $867,000 (14.5%) $1,444,067 (16.3%) 1.96 4,315
    2023-06-01 $866,470 (15.5%) $1,425,568 (21.6%) 1.95 4,804
    2023-07-01 $849,900 (14.9%) $1,434,805 (29.2%) 1.93 4,538
    2023-08-01 $844,200 (16.4%) $1,418,399 (28.0%) 1.94 4,530
    2023-09-01 $849,000 (14.1%) $1,420,742 (24.1%) 1.98 4,931
    2023-10-01 $837,374 (11.8%) $1,400,665 (19.8%) 1.97 5,351
    Boston's median listing price for 2023-10-01 was $837,374, a difference of $88,374 (11.8%) versus the prior year and $-11,626 versus the prior month.

    Boston's median listing price comes in at 197% of the national average.

    Boston's average listing price for 2023-10-01 was $1,400,665, a difference of $231,141 (19.8%) versus the prior year and $-20,077 versus the prior month.

    For the 2023-10-01 period, Boston had 5,351 MLS listings, a difference of 420 listings (9%) versus the prior month and -871 listings (-14%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Boston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 73 days 2,007 sqft
    2018-02-01 57 days 2,025 sqft
    2018-03-01 36 days 2,061 sqft
    2018-04-01 29 days 2,042 sqft
    2018-05-01 28 days 2,055 sqft
    2018-06-01 32 days 2,044 sqft
    2018-07-01 41 days 2,033 sqft
    2018-08-01 46 days 2,012 sqft
    2018-09-01 44 days 1,989 sqft
    2018-10-01 44 days 1,966 sqft
    2018-11-01 51 days 1,946 sqft
    2018-12-01 65 days 1,936 sqft
    2019-01-01 71 days 1,907 sqft
    2019-02-01 56 days 1,925 sqft
    2019-03-01 41 days 1,973 sqft
    2019-04-01 32 days 2,025 sqft
    2019-05-01 32 days 2,045 sqft
    2019-06-01 37 days 2,054 sqft
    2019-07-01 47 days 2,036 sqft
    2019-08-01 49 days 2,020 sqft
    2019-09-01 46 days 1,997 sqft
    2019-10-01 44 days 1,983 sqft
    2019-11-01 55 days 1,982 sqft
    2019-12-01 75 days 1,932 sqft
    2020-01-01 78 days 1,909 sqft
    2020-02-01 43 days 1,959 sqft
    2020-03-01 31 days 2,000 sqft
    2020-04-01 45 days 1,996 sqft
    2020-05-01 50 days 2,000 sqft
    2020-06-01 31 days 1,966 sqft
    2020-07-01 35 days 1,890 sqft
    2020-08-01 37 days 1,842 sqft
    2020-09-01 32 days 1,733 sqft
    2020-10-01 31 days 1,692 sqft
    2020-11-01 47 days 1,668 sqft
    2020-12-01 62 days 1,652 sqft
    2021-01-01 60 days 1,640 sqft
    2021-02-01 33 days 1,652 sqft
    2021-03-01 22 days 1,665 sqft
    2021-04-01 18 days 1,668 sqft
    2021-05-01 19 days 1,693 sqft
    2021-06-01 19 days 1,709 sqft
    2021-07-01 29 days 1,710 sqft
    2021-08-01 31 days 1,709 sqft
    2021-09-01 28 days 1,685 sqft
    2021-10-01 30 days 1,654 sqft
    2021-11-01 38 days 1,630 sqft
    2021-12-01 49 days 1,649 sqft
    2022-01-01 54 days 1,650 sqft
    2022-02-01 25 days 1,662 sqft
    2022-03-01 18 days 1,672 sqft
    2022-04-01 15 days 1,685 sqft
    2022-05-01 16 days 1,787 sqft
    2022-06-01 18 days 1,813 sqft
    2022-07-01 26 days 1,826 sqft
    2022-08-01 35 days 1,832 sqft
    2022-09-01 34 days 1,815 sqft
    2022-10-01 31 days 1,813 sqft
    2022-11-01 41 days 1,804 sqft
    2022-12-01 58 days 1,836 sqft
    2023-01-01 60 days 1,841 sqft
    2023-02-01 37 days 1,861 sqft
    2023-03-01 28 days 1,860 sqft
    2023-04-01 25 days 1,850 sqft
    2023-05-01 23 days 1,919 sqft
    2023-06-01 24 days 1,911 sqft
    2023-07-01 36 days 1,896 sqft
    2023-08-01 37 days 1,900 sqft
    2023-09-01 31 days 1,908 sqft
    2023-10-01 32 days 1,878 sqft
    Boston's median listing age (time on market) for 2023-10-01 was 32 days. This is 2% longer than the same period one year ago.

    Boston's median square footage for active listings during the 2023-10-01 period was 1,878 sqft. One year prior, the average listing was 1,813 sqft.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.